LONDON MARKETS

Sun (Auckland), Volume I, Issue 272, 7 February 1928, Page 12

LONDON MARKETS

OFFICIAL RESUME Under date February 4, the High Commissioner for New Zealand stationed in London cabled the following resume of London markets:— Tallow.—Owing to small arrivals and quiet market no action this week. Quotations are nominally unchanged. EflflS.—;A fair inquiry for best at reduced prices. Cheaper sorts are in small supply and prices are firm. Present quotations are:—English, French and Danish, 18s to 21s a long 100; Belgian, 16s 9d to 17s; Egyptian, 10s 6d to 11s 6<l; Dutch, 17s to 19s. Hemp, —The Manila market is easier, under selling pressure. “J” grade sold at £4O ss. February-April shipments at £4O, The Sisal market is dull and values are lower. No. 1 afloat and near at hand, £36 10s; No. 2, £35 ss. New Zealand: The market is very dull. Fair afloat are offered at £,32 10s, and Febru-ary-April shipments at £32 bs, but buyers show no disposition to operate. Closing values are: High points, £24; fair, £32; common, £3l ss. Oats.—The market is steady with good inquiry for English, choice white making, up to 37s 6d, and good qualitv feed oats 33s 6d to 345. Chilean: February-March and Mareh-April shipments sold at 26s 9d. New Zealand “A” grade, February-March shipments are valued at 34s 6d. Peas. —The maple market is slow. No. 1 New Zealand partridge, for March-Am'il shipments, offered at 70s, and April-May shipments, 695. Buyers’ ideas are about Is lower. English: Good quality are in small supply, best making 65s to 67s 6d. Blues: The market is demoralised owing to heavy arrivals, and large quantities of Japanese afloat. The nominal value of "A” grade Tasmanian, February shipments, is £l7 10s c.i.f. Beans. —The market Is quiet but steady. English best winter are making up to 50s, and old crop (spring) up to 60s. Chinese horse, afloat, are valued at £lO 12s 6d. Danish Cocksfoot.—There is little doing at present. Good quality seed is scarce and nominal value, c.i.f. New Zealand ports, is £5 Is. TARANAKI OILFIELDS LTD. Press Association. GISBORNE. To-day. The Taranaki Oilfields Co., Ltd., reports as follows: The Waiapu No. 2 well is down to a depth of 3,170 feet, in shale, with an 84-inch diameter casing to 3,152 feet. The Gisborne No. 1 well work is waiting for the cement to set. At the Gisborne No. 2 well construction work is in progress.